The longest waiting heir apparent to the throne in British history will have to settle for a government pension for now.

Prince Charles is readying his paperwork to claim his pension when he turns 65 on Thursday, the Associated Press reports. The Prince of Wales is entitled to $175 a week for his service in the Royal Navy and voluntary contributions he’s made in the past — but palace officials say he’s giving the money to charity for elderly people.

Dubbed “The Forgotten Prince” by TIME in October, Prince Charles is the eldest son of Queen Elizabeth II, 87. He became a grandfather this year when his son Prince William and wife Kate Middleton had their first child.

He’ll spend his birthday Thursday in India and then at the meeting of the Commonwealth heads of government meeting in Sri Lanka.